OPEC

(ō′pĕk′)

abbr.

Organization of Petroleum Exporting Countries

OPEC

(ˈəʊˌpɛk)

n acronym for

(Commerce) Organization of Petroleum-Exporting Countries: an organization formed in 1961 to administer a common policy for the sale of petroleum. Its members are Algeria, Angola, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. Ecuador and Gabon were members but withdrew in 1992 and 1995 respectively

Bharat, India, Republic of India - a republic in the Asian subcontinent in southern Asia; second most populous country in the world; achieved independence from the United Kingdom in 1947

Dutch East Indies, Indonesia, Republic of Indonesia - a republic in southeastern Asia on an archipelago including more than 13,000 islands; achieved independence from the Netherlands in 1945; the principal oil producer in the Far East and Pacific regions

Iran, Islamic Republic of Iran, Persia - a theocratic Islamic republic in the Middle East in western Asia; Iran was the core of the ancient empire that was known as Persia until 1935; rich in oil

Al-Iraq, Irak, Iraq, Republic of Iraq - a republic in the Middle East in western Asia; the ancient civilization of Mesopotamia was in the area now known as Iraq

SANA'A, March 20 (Saba) - Yemen and World Bank (WB) and Organization of the Petroleum Exporting Countries (OPEC) discussed here on Thursday issues related to granting Yemen an additional fund of $50 million for public work project.

Twenty-three Asian countries represented by their ministers of energy, along with three international organizations, namely Organization of the Petroleum Exporting Countries (OPEC), the International Energy Agency (IEA) and the Secretariat General of the International Energy Forum (IEF).

Energy Department, the International Energy Agency and the Organization of the Petroleum Exporting Countries all this week release their latest assessment of the energy markets, which includes a forecast for worldwide demand for oil.

Summary: Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, is leading the UAE delegation to the 163rd meeting of the Organization of the Petroleum Exporting Countries (OPEC) which started today in Vienna.

The district court granted the defendants' motion for dismissal under the act of state doctrine and political question doctrine, finding that the complaints involved decisions of the Organization of the Petroleum Exporting Countries (OPEC) and the defendants' involvement in such decision making.

Summary: High oil prices represent a potentially major burden for importers with global economic recovery still fragile, leading Organization of the Petroleum Exporting Countries ministers said Monday.

The Organization of the Petroleum Exporting Countries (OPEC) is a cartel of twelve countries made up of Iran, Algeria, Angola, Ecuador, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela found in 1965 with its headquarters in Vienna and hosts regular meetings among the oil ministers of its member countries.

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